SREI Infrastructure Finance slips on ratings downgrade

CARE ratings downgraded ratings for the company's long term bonds and debentures owing to rise in NPAs and restructured assets

Shares of Kolkata-based SREI Infrastructure Finance have dropped 1.8% to Rs 45 on the BSE after rating agency CARE ratings downgraded ratings for the company’s long term bonds and debentures owing to rise in non-performing assets (NPAs) and restructured assets. CLICK FOR FULL STORY

SREI Infrastructure Finance is a leading infrastructure financing conglomerate in India.

On a consolidated basis, net profit of SREI Infrastructure Finance declined 63.55% to Rs 23.32 crore on 14.8% decline in total income to Rs 798.51 crore in Q1 June 2015 over Q1 June 2014.

The story opened at 45.45 and touched a low of Rs 43.90 on the BSE.